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Last Updated: April 2, 2026, 3:17 am
Author: Getaka|Social: XLinkedIn

Maheshwari Logistics Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹36.80Overvalued by 16.55%vs CMP ₹44.10

P/E (7.0) × ROE (9.3%) × BV (₹69.90) × DY (2.00%)

₹90.78Undervalued by 105.85%vs CMP ₹44.10
MoS: +51.4% (Strong)Confidence: 56/100 (Moderate)Models: 6 Under, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹37.4630%Over (-15.1%)
Graham NumberEarnings₹99.7822%Under (+126.3%)
Net Asset ValueAssets₹70.2210%Under (+59.2%)
EV/EBITDAEnterprise₹121.7812%Under (+176.1%)
Earnings YieldEarnings₹63.3010%Under (+43.5%)
ROCE CapitalReturns₹193.9610%Under (+339.8%)
Revenue MultipleRevenue₹160.807%Under (+264.6%)
Consensus (7 models)₹90.78100%Undervalued
Key Drivers: Wide model spread (₹37–₹194) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 1.8%

*Investments are subject to market risks

Investment Snapshot

63
Maheshwari Logistics Ltd scores 63/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health63/100 · Moderate
ROCE 12.6% GoodROE 9.3% AverageD/E 0.87 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 56.6% Stable
Earnings Quality60/100 · Moderate
OPM stable around 6% SteadyWorking capital: 19 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +8% YoY GrowingProfit (4Q): +27% YoY Strong
Industry Rank55/100 · Moderate
P/E 7.0 vs industry 16.3 Cheaper than peersROCE 12.6% vs industry 12.0% Average3Y sales CAGR: -3% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:17 am

Market Cap 130 Cr.
Current Price 44.1
Intrinsic Value₹90.78
High / Low 65.0/39.0
Stock P/E6.96
Book Value 69.9
Dividend Yield0.00 %
ROCE12.6 %
ROE9.27 %
Face Value 10.0
PEG Ratio3.87

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Maheshwari Logistics Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Maheshwari Logistics Ltd 130 Cr. 44.1 65.0/39.06.96 69.90.00 %12.6 %9.27 % 10.0
Globe International Carriers Ltd 456 Cr. 40.7 52.4/20.646.6 8.190.00 %11.2 %8.51 % 5.00
Transport Corporation of India Ltd (TCI) 7,130 Cr. 929 1,299/88115.9 3120.97 %20.5 %19.8 % 2.00
Coastal Roadways Ltd 10.9 Cr. 26.2 42.9/26.26.94 58.60.00 %9.25 %6.35 % 10.0
Frontline Corporation Ltd 12.6 Cr. 25.2 61.5/25.05.12 33.00.00 %4.73 %14.6 % 10.0
Industry Average2,572.00 Cr126.4616.30119.060.20%12.03%10.77%8.56

All Competitor Stocks of Maheshwari Logistics Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 305.56274.96267.54234.43271.10255.92245.30224.80230.03249.11256.31265.19261.50
Expenses 292.24263.26254.08220.81258.74242.89231.22209.02212.32232.21239.37249.89244.14
Operating Profit 13.3211.7013.4613.6212.3613.0314.0815.7817.7116.9016.9415.3017.36
OPM % 4.36%4.26%5.03%5.81%4.56%5.09%5.74%7.02%7.70%6.78%6.61%5.77%6.64%
Other Income 0.230.570.620.491.721.880.991.770.032.741.292.690.69
Interest 6.265.336.596.246.938.307.517.557.788.248.248.197.91
Depreciation 2.983.112.762.782.933.473.533.723.874.093.693.944.29
Profit before tax 4.313.834.735.094.223.144.036.286.097.316.305.865.85
Tax % 36.43%5.48%35.52%24.95%34.83%-8.28%6.20%27.87%50.74%14.36%30.48%33.11%28.72%
Net Profit 2.743.633.053.822.743.413.774.533.016.264.383.914.18
EPS in Rs 0.931.231.031.290.931.151.271.531.022.121.481.321.41

Last Updated: March 3, 2026, 11:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 10:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4145336017368671,0357566681,0331,1421,0279481,032
Expenses 3975165777088329897056259811,092978884966
Operating Profit 18182328354551435251496566
OPM % 4%3%4%4%4%4%7%6%5%4%5%7%6%
Other Income 1102342232667
Interest 67119131822201923263133
Depreciation 43257812131212121516
Profit before tax 891016182320132418172425
Tax % 39%38%30%38%35%35%27%27%28%25%24%26%
Net Profit 5671012151591714131819
EPS in Rs 5.335.626.773.283.945.094.973.145.794.624.405.936.33
Dividend Payout % 0%0%0%0%13%12%0%16%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)20.00%16.67%42.86%20.00%25.00%0.00%-40.00%88.89%-17.65%-7.14%38.46%
Change in YoY Net Profit Growth (%)0.00%-3.33%26.19%-22.86%5.00%-25.00%-40.00%128.89%-106.54%10.50%45.60%

Maheshwari Logistics Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:5%
3 Years:-3%
TTM:-5%
Compounded Profit Growth
10 Years:13%
5 Years:4%
3 Years:1%
TTM:32%
Stock Price CAGR
10 Years:%
5 Years:-7%
3 Years:-8%
1 Year:-15%
Return on Equity
10 Years:10%
5 Years:9%
3 Years:8%
Last Year:9%

Last Updated: September 5, 2025, 10:15 am

Balance Sheet

Last Updated: December 10, 2025, 3:02 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 55515151515303030303030
Reserves 3342547788102115109125137151169177
Borrowings 41355374130142147141177207239252281
Other Liabilities 7384105176107116868899101113138134
Total Liabilities 152167218342340374363368430475533587622
Fixed Assets 111217336473117109110107147150163
CWIP 102053815153717191
Investments 0000032225666
Other Assets 140155199309271260243252303326363412452
Total Assets 152167218342340374363368430475533587622

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 613-3-292643049938157
Cash from Investing Activity + -2-1-6-18-41-52-18-6-35-30-29-18
Cash from Financing Activity + -6-12153945-10-13-2815-813-19
Net Cash Flow -115-862-214-110-1521
Free Cash Flow 411-10-48-41151042-277-3037
CFO/OP 53%95%9%-71%28%154%66%119%32%83%8%97%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-23.00-17.00-30.00-46.00-95.00-97.00-96.00-98.00-125.00-156.00-190.00-187.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 10190841096844576547455158
Inventory Days 18614293833466140435972
Days Payable 9183981325460505235323954
Cash Conversion Cycle 2813075116537352567175
Working Capital Days 27222231327294130253119
ROCE %20%20%24%18%16%17%16%12%14%11%11%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 57.40%57.40%57.37%57.36%57.13%57.11%57.11%57.11%57.14%57.14%56.58%56.58%
Public 41.37%41.37%41.40%41.41%41.63%41.65%41.66%41.66%41.63%41.63%41.63%41.63%
Others 0.00%0.00%0.00%0.00%0.00%0.00%1.23%1.23%1.23%1.23%1.79%1.79%
No. of Shareholders 14,21616,08312,75713,45213,12612,83013,27413,39112,95912,78012,45212,100

Shareholding Pattern Chart

No. of Shareholders

Maheshwari Logistics Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 6.224.464.565.793.14
Diluted EPS (Rs.) 6.224.464.565.793.14
Cash EPS (Rs.) 11.648.698.569.927.48
Book Value[Excl.RevalReserv]/Share (Rs.) 67.2061.2056.4252.2146.89
Book Value[Incl.RevalReserv]/Share (Rs.) 67.2061.2056.4252.2146.89
Revenue From Operations / Share (Rs.) 328.80354.09388.23349.66228.46
PBDIT / Share (Rs.) 24.8319.6617.7618.4515.21
PBIT / Share (Rs.) 19.4215.6213.7614.3210.87
PBT / Share (Rs.) 8.446.166.168.034.34
Net Profit / Share (Rs.) 6.224.644.555.793.14
NP After MI And SOA / Share (Rs.) 6.224.644.555.793.14
PBDIT Margin (%) 7.555.554.575.276.65
PBIT Margin (%) 5.904.403.544.094.75
PBT Margin (%) 2.561.731.582.291.89
Net Profit Margin (%) 1.891.311.171.651.37
NP After MI And SOA Margin (%) 1.891.311.171.651.37
Return on Networth / Equity (%) 9.267.638.0911.096.69
Return on Capital Employeed (%) 20.2516.0515.2616.6714.06
Return On Assets (%) 3.002.512.814.002.52
Long Term Debt / Equity (X) 0.360.540.540.580.57
Total Debt / Equity (X) 1.351.381.151.130.87
Asset Turnover Ratio (%) 1.682.042.532.591.84
Current Ratio (X) 1.211.331.471.591.81
Quick Ratio (X) 0.740.810.941.081.24
Inventory Turnover Ratio (X) 6.791.492.874.933.12
Dividend Payout Ratio (NP) (%) 0.000.000.008.620.00
Dividend Payout Ratio (CP) (%) 0.000.000.005.040.00
Earning Retention Ratio (%) 0.000.000.0091.380.00
Cash Earning Retention Ratio (%) 0.000.000.0094.960.00
Interest Coverage Ratio (X) 2.262.082.342.932.33
Interest Coverage Ratio (Post Tax) (X) 1.571.491.601.921.48
Enterprise Value (Cr.) 412.08408.39410.96466.52314.27
EV / Net Operating Revenue (X) 0.420.380.350.450.46
EV / EBITDA (X) 5.617.027.828.546.98
MarketCap / Net Operating Revenue (X) 0.160.170.200.290.32
Retention Ratios (%) 0.000.000.0091.370.00
Price / BV (X) 0.821.011.421.991.59
Price / Net Operating Revenue (X) 0.160.170.200.290.32
EarningsYield 0.110.070.050.050.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Maheshwari Logistics Ltd. is a Public Limited Listed company incorporated on 12/10/2006 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L60232GJ2006PLC049224 and registration number is 049224. Currently Company is involved in the business activities of Freight transport by road. Company's Total Operating Revenue is Rs. 949.24 Cr. and Equity Capital is Rs. 29.60 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Transport - RoadMLL House, Shed No.A2-3/2, Valsad Gujarat 396195Contact not found
Management
NamePosition Held
Mr. Neeraj MaheshwariChairman & Managing Director
Mr. Amit Kailashnarayan MaheshwariWhole Time Director
Mr. Vinay Premnarayan MaheshwariWhole Time Director
Mr. Shubham Vinay MaheshwariNon Executive Director
Mr. Ramnaresh Ramkalyan KabraInd. Non-Executive Director
Mr. Viraj Bipinkumar ShahInd. Non-Executive Director
Mr. Mukesh AgrawalInd. Non-Executive Director
Mrs. Punam Pushpkumar DhootInd. Non-Executive Woman Director

FAQ

What is the intrinsic value of Maheshwari Logistics Ltd and is it undervalued?

As of 15 April 2026, Maheshwari Logistics Ltd's intrinsic value is ₹90.78, which is 105.85% higher than the current market price of ₹44.10, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (9.27 %), book value (₹69.9), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Maheshwari Logistics Ltd?

Maheshwari Logistics Ltd is trading at ₹44.10 as of 15 April 2026, with a FY2026-2027 high of ₹65.0 and low of ₹39.0. The stock is currently near its 52-week low. Market cap stands at ₹130 Cr..

How does Maheshwari Logistics Ltd's P/E ratio compare to its industry?

Maheshwari Logistics Ltd has a P/E ratio of 6.96, which is below the industry average of 16.30. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Maheshwari Logistics Ltd financially healthy?

Key indicators for Maheshwari Logistics Ltd: ROCE of 12.6 % is moderate. Dividend yield is 0.00 %.

Is Maheshwari Logistics Ltd profitable and how is the profit trend?

Maheshwari Logistics Ltd reported a net profit of ₹18 Cr in Mar 2025 on revenue of ₹948 Cr. Compared to ₹17 Cr in Mar 2022, the net profit shows an improving trend.

Does Maheshwari Logistics Ltd pay dividends?

Maheshwari Logistics Ltd has a dividend yield of 0.00 % at the current price of ₹44.10. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Maheshwari Logistics Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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